Issue link: https://maltatoday.uberflip.com/i/1096093
2 maltatoday | SUNDAY • 24 MARCH 2019 NEWS YANNICK PACE COMPANIES owned by the Nationalist and Labour parties remain in breach of company law, despite reassurances from both parties over the last two years that they were working to regularise their position. MaltaToday first sought an- swers from the two major par- ties two years ago about the fact that none of their sub- sidiaries – at least six for the Labour party and two for the PN – had submitted audited accounts with the MFSA, as is required at law. MLP Holdings, which is owned by the Labour Party, for example, hasn't filed ac- counts since 2000, according to the Registry of Compa- nies website. The PN's media wing, Media.Link hasn't filed accounts since 2005. The Companies Act requires companies to keep proper ac- counting records and to de- liver a copy of the annual ac- counts laid and the auditors' and directors' report every year to the companies regis- trar. Annual accounts, along with other company documents and details of directors and shareholders, are publicly available for viewing, showing that currently seven compa- nies owned by the two main political parties – five owned by PL and two owned by PN – are in breach of this obliga- tion. While the parties' companies aren't alone – 18% of regis- tered companies as of March 2017 had missed at least one deadline – both had ac- knowledged that they were in breach of the law and pledge to address the matter. Then Labour Party chief ex- ecutive Gino Cauchi had said in 2017 that the party would be submitting the accounts in due course and justified the situation by pointing out that the company Sunrise Travel had not operated since 2013, while two other companies – MLP Holdings and Consul- tancy & Research – were non- trading companies. Nevertheless, the Compa- nies Act makes no exceptions for non-trading or 'non-oper- ational' companies. A year later, the party's new chief executive Randolph De- battista told MaltaToday that "the necessary work is under way in order for the Labour Party's subsidiaries to regular- ise their position in the short- est time possible". Similarly, a spokesperson for the PN had, in 2017, said that the party was "focusing on regularising fully its posi- tion within the shortest time- frame possible". MaltaToday has again reached out to the parties, to ask how it is possible that two years down the line, no appar- ent progress has been made in this regard. The parties were also asked how they can expect to be tak- en seriously when they speak about respecting the country's institutions and protecting its financial services sector, and they themselves are not lead- ing by example and ensuring the transparency required at law. A PN spokesperson said that "as previously stated the Nationalist Party is doing its utmost to regularise the po- sition of its companies and acknowledges that this is un- fortunately taking longer than expected... The task of get- ting all accounts finalised and audited requires substantial technical human resources which are very difficult to find and retain". "We assure the public that all effort is being put in to submit all documentation re- lated to the Party's commer- cial companies as required by law, in the shortest time pos- sible," the spokesperson said. Questions sent to the Labour Party CEO went unanswered. Two years down the line, party companies still breaking law JAMES DEBONO THE manifesto of Malta's green par- ty, Alternattiva Demokratika, will go down in Maltese history as the first ever to call for a "mature debate" on abortion. But it will still reiterate the party's official stance against its intro- duction. Clearly stating it does not agree with abortion, the party is, however, un- equivocal in calling for a debate on the taboo issue. "As a country, we cannot remain with our head buried in the sand, ignoring reality. It is a known fact that Maltese citizens have been utilising abortion services for some time and conse- quently the matter cannot be ignored for much longer: reality has to be ad- dressed," AD say in their manifesto. AD chairperson Carmel Cacopardo referred to the considerable number of Maltese who every year proceed overseas to procure abortion, or else make use of abortion-inducing pills, "most probably without medical su- pervision". "The aim of such a debate is that of establishing a clearer picture of Mal- tese reality and assist policy makers in identifying suitable measures to ad- dress the causes of abortion in Malta," the MEP candidate said. Alternattiva Demokratika are also fielding Mina Tolu for the European elections. Like other green parties AD is pro- posing a "minimum income directive" to be approved by the next European Parliament, which would oblige mem- ber states to guarantee their citizens a "decent minimum income, respecting national social security systems". AD also advocates for "national experi- ments on universal basic income and working-time reduction schemes". AD reiterated its stance for a fair sharing of responsibilities among member states of rescued migrants and is calling for the re-establishment of "a European sea rescuing mission." "Member States on the European frontiers, like Malta, should not be left on their own," AD said, which also opposes the criminalisation of rescue missions. AD welcomed the government's dec- laration that it intends to start the process to remove petrol and diesel run cars from our roads, but this must be accompanied by "a drive to reduce the number of cars from our roads." One of the proposals made by AD is investment in bicycle superhighways along arterial roads, connecting all towns and villages. AD is also against the use of EU funds "to increase the space for cars". In line with other Green Parties AD is proposing that national govern- ments that undermine the rule of law should be "denied control over EU funds", but final beneficiaries of these funds should still be protected. On both Maltese and European levels, AD is proposing clear rules regulating lob- bying. AD is calling for constitutional reforms through which 'effective au- thority' would not remain concentrat- ed in the Prime Minister's role. In what appears as a balancing act between local considerations and the European Greens' support for tax har- monisation, AD advocates an ethical and responsible use of Malta's "com- petitive tax advantage." While noting that taxation policy is a matter re- served for the member states, AD also warns against companies using "legal loopholes" to evade payment of taxes. "Monies which are fed into the Mal- tese Exchequer as a result of this are the result of tax evasion and serve only to endanger measures of social soli- darity in other Member States". AD also supports the introduction of a digital tax in Europe to make big inter- net platforms and multinationals cur- rently paying almost no tax pay their dues. AD is calling for the prohibition of the trans-shipment of arms and sur- veillance technologies for all ports, in- cluding Maltese ports to dictators and warring parties. The Greens refrained from any reference to a European ar- my while affirming that to maintain peace, "Europe needs a common secu- rity and defence policy." Companies owned by both the Nationalist and Labour parties remain in breach of company law by failing to publish their accounts AD manifesto: Against abortion but time for a mature debate The headquarters of the Labour Party (left) and the Nationalist Party (right)